Jack Selby’s Etched stake shows VC access gap
Jack Selby’s reported access to stakes in hot startups like Etched through Arizona connections shows how private-market investing still runs on networks, not just thesis.
Hot AI and deeptech rounds are not only about who has conviction. They are also about who can actually get access.
What happened
A new venture story says Jack Selby of Thiel Capital gained stakes in high-demand startups, including Etched, through Arizona connections.
That detail matters because Etched has become one of the more watched AI chip companies, with investor interest tied to the broader race for faster and more efficient inference hardware. The story is less about one person’s portfolio and more about how access to private companies is often built through relationship networks, regional ecosystems and long-running trust.
Why it matters
In venture capital, strong companies do not always need more investors. When a startup is already highly sought after, allocation can become scarce. That means the advantage shifts from simply spotting the opportunity to actually getting into the round or finding access through secondaries, local relationships or trusted intermediaries.
Selby’s Arizona angle is the important part. It shows that even in a supposedly global venture market, geography and community still matter. A regional network can become a route into companies that otherwise look impossible to access from the outside.
The bigger picture
AI and deeptech are making private-market access more competitive. The companies with the most hype often raise large private rounds, stay private longer, and attract more investors than they can reasonably fit on the cap table.
That creates a widening gap between investors who have capital and investors who have access. For founders, it also shows why investor networks matter: the best backer may not just be the one with money, but the one who can open the right doors across customers, talent, follow-on capital and strategic relationships.